EBAN SportsTech Manifesto
EBAN SportsTech Manifesto: Leading the Charge for Innovation in European Sports
Preamble
As a vital community within the European Business Angels Network (EBAN), EBAN Sports stands at the intersection
of sports and innovation, championing a future where technology elevates athletic performance and enriches fan
experiences. Our manifesto is a call to action for all stakeholders—investors, entrepreneurs, policymakers, and sports
enthusiasts—to unite in fostering a robust SportsTech ecosystem that drives growth, inclusivity, and sustainability
across Europe. Together, we will harness the power of innovation to shape the future of sports and create lasting societal
impacts.
1. The Strategic Importance of Investing in SportsTech
SportsTech is not just a market; it is a transformative movement that integrates technology with health, entertainment,
and data analytics. Our commitment to investing in SportsTech unlocks significant benefits that extend beyond the
playing field:
• Transforming Athletic Performance: Innovative solutions such as wearables, AI-driven analytics, and recovery
technologies are revolutionizing how athletes train, compete, and recover, pushing the boundaries of human
performance.
• Revolutionizing Fan Engagement: The integration of immersive technologies like virtual reality and mobile
applications is creating unparalleled fan experiences, deepening connections between sports and their audiences.
• Promoting Health and Wellbeing: By leveraging gamification and fitness technologies, SportsTech encourages active
lifestyles, contributing to healthier communities and reducing healthcare costs across Europe. WHO (World Health
Organization) developed an economic analysis which predicts that nearly 500 million new cases of preventable major
NCDs (Non-Communicable Diseases) will occur globally between 2020 and 2030 if the prevalence of physical
inactivity does not change. These NCDs will cost an estimated US $300 billion in healthcare costs alone in that 11 year
period, or about US $27 billion per year. These estimates do not include the significant indirect costs including loss of
productivity.
• Driving Sustainability: Advancements in materials and practices within SportsTech support environmental goals,
ensuring a greener future for the sports industry and aligning with global sustainability initiatives.
2. Building an Ecosystem of Innovation and Collaboration
The impact of SportsTech extends across various sectors, fostering innovation and collaboration that benefit society as a
whole:
• Advancing Healthcare: Enhanced training and recovery protocols not only improve athlete health but also lead to
better outcomes for the general population, aligning with public health objectives.
• Integrating SportsTech into Education: Educational institutions can incorporate sports technology into curricula,
preparing future generations for careers in this dynamic field and ensuring a skilled workforce for tomorrow’s
challenges.
• Empowering Professional Athletes: Enabling athletes to understand the value of SportsTech and reinvest in their own
ecosystem and industry.
• Collaborating with Sports Organizations: Working with clubs, leagues, and federations to integrate sports technology.
• Enhancing Urban Development: City initiatives could incorporate SportsTech to create active, vibrant communities
that promote public health and well-being, also to dynamise and grow its start-up community and position themselves
as sports tech clusters.
3. Leveraging European Programs for Growth
EBAN SportsTech is committed to maximizing opportunities provided by European Union programs designed to spur
innovation and investment:
• Horizon Europe: Access to funding for research and innovation projects that can propel SportsTech initiatives
forward, enhancing competitiveness on a global scale.
• Erasmus+: Creating educational partnerships that foster skill development and knowledge exchange in SportsTech,
enhancing collaboration across Europe.
• European Regional Development Fund: Supporting regional projects that boost local economies through SportsTech
innovation, driving inclusive development.
4. An Ambitious Call to Action
We call upon all members of the European Business Angels Network and beyond to take decisive action:
• Invest Boldly and Responsibly: Recognize the transformative potential of SportsTech and commit resources to
innovative projects that create value for athletes, fans, and communities.
• Foster Collaborative Ecosystems: Encourage partnerships among startups, established companies, sports
organizations, and research institutions to accelerate development and commercialization of breakthrough SportsTech
solutions.
• Advocate for Strategic Support: Engage with EU programs and initiatives to secure the funding and resources
essential for amplifying the impact of SportsTech investments across Europe.
• Join the EBAN Sports Community:
If you are already a member of the European Business Angels Network, join the EBAN Sports community to be part of
this transformative movement (https://test.artmedia.ee/eban-live/eban-sports/).
If you are not yet an EBAN member, consider joining EBAN and the EBAN Sports community to contribute to the
growth of the SportsTech ecosystem in Europe.
Conclusion
The future of sports is intrinsically tied to the fusion of technology and innovation. By investing in SportsTech through
the EBAN community, we empower athletes, enhance fan experiences, and create a sustainable and prosperous sports
landscape for generations to come.
Join us in this bold endeavor to position Europe as the epicenter of SportsTech innovation.
Together, we can lead the charge in harnessing the power of sports technology to drive economic growth, promote
inclusivity, and inspire healthier, more active lives.
Let us unite to transform the future of sports—where vision meets action, and every investment paves the way for
success.
€31.5 Million from Finnish Angel Investors: Fewer Startups Receiving Funding, but with Larger Ticket Sizes
The Finnish Business Angels Network (FiBAN) has published its investment statistics for 2024.
According to the latest figures, Finnish business angels invested a total of €31.5 million in Finnish startup companies in 2024, bringing angel investments back from 2022’s dip. However, the number of funded startups dropped significantly: only 84 startups received funding in 2024, compared to 173 in 2023.
While the trend of angel investing has been declining across Europe, Finnish angel investing continues strong. Members of FiBAN, the largest angel investor network in Europe, have invested nearly half a billion euros into over 2,000 startups during its 15-year history.
Larger Funding Rounds for a Select Few
In Finland, the early-stage investment climate has been challenged by general market uncertainty, technological disruption, and a rise in bankruptcies. According to Statistics Finland, there were 3,475 bankruptcies in 2024, a roughly 5% increase from the previous year.
This is also reflected in FiBAN’s data as a decrease in follow-on rounds, but at the same time, the importance of promising new startups is emphasized. Startups that succeeded in securing angel funding received significantly larger investments than in previous years.
“New companies are emerging especially in the application of artificial intelligence as well as in the defense and dual-use sectors. Angels are drawn to new technologies and industries. For example, in the defense and dual-use sector, we witnessed immense demand for funding — we received over 120 applications from defense-related startups alone in 2024. This trend appears to be accelerating in 2025,” says Tiina Laisi-Puheloinen, CEO of FiBAN.
Syndicated Investments Enable Larger Rounds and Risk Diversification
With an individual angel in Finland typically investing in an average of 1.7 startups per year, the significance of syndication has grown: the average size of funding rounds involving FiBAN members was €275,000.
“The trend of co-investing is particularly evident in these emerging sectors, such as defense and dual-use technology. Research-driven startups require larger capital injections. A great example is the €920,000 investment round in Dobbelgänger, a company developing decoi technology, which brought together VC firm Lifeline Ventures, Innovestor, and a large group of angel investors. “In 2024 alone, over 150 startups in the defence, dual-use, and security sectors applied for funding through FiBAN—compared to fewer than 10 such applications before 2023,” explains Tiina Laisi-Puheloinen, CEO of FiBAN.
FiBAN has significantly increased its collaboration with various investment firms, thereby expanding investment opportunities for its members.
“FiBAN has 600 members, and many want to diversify their startup investments across different categories — especially if their portfolio already contains dozens of startups. The Co-Investment Fund, established at FiBAN’s initiative, has further increased collaboration between different investor groups. For experienced angel investors, a natural next step is to establish their own fund and diversify their investments,” adds Laisi-Puheloinen.
140 Exits in 2024 – Silo.AI the Biggest Success Story
It typically takes 7–10 years for an exit to materialize. In 2024, the number of exits remained high at 140, despite a more cautious approach to new investments. Of these exits, 40% were due to bankruptcies.
The most notable angel exit of 2024 was the sale of AI company Silo.AI to AMD in the U.S. for €600 million. Silo.AI was recognized as FiBAN’s Exit of the Year 2024 at the annual Angel Gala.
“Silo.AI is a prime example of how the role of business angels in early-stage financing can enable significant growth for a company — and a strong return on capital invested with high risk,” says FiBAN CEO Tiina Laisi-Puheloinen.
Brussels, Belgium – 1st of April, 2025 – The European Business Angels Network (EBAN), Europe’s leading early-stage investor network, is proud to announce the launch of EBAN Sports, a new initiative aimed at fostering innovation and investment in the global sports technology sector. As part of EBAN’s ongoing commitment to supporting entrepreneurship and driving economic growth, EBAN Sports will serve as a dedicated platform to connect angel investors, startups, and industry leaders within the rapidly growing sports ecosystem.
The launch of EBAN Sports was officially announced at Galicia Sportech Congress 2025. The event provided the perfect setting to unveil this ambitious initiative, bringing together investors, entrepreneurs, and industry leaders from across the continent.
Jacopo Losso, EBAN’s Director General, expressed his enthusiasm for the initiative:
“Sports have always been a unifying force globally. With EBAN Sports, another vertical within EBAN, we aim to provide our investors with dedicated networks to foster investments and offer startups a dedicated space to fuel their growth.”
EBAN Sports is designed to capitalize on the immense opportunities within the sports industry, which has seen exponential growth in areas such as sports performance, fan engagement, venue management, and fitness. By leveraging EBAN’s extensive network of investors and partners across Europe and beyond, this initiative will provide investors with a dedicated space to connect, while offering startups access to funding and mentorship from experienced investors.
Audra Shallal, Co-Chair of EBAN Sports, stated:
“With EBAN Sports, we’re building a platform to empower startups and investors to shape the future of this fast-growing, complex, and dynamic sector.”
Juan Fuentes, Co-Chair of EBAN Sports, added:
“By connecting investors with visionary entrepreneurs, we aim to drive innovation in sports and create lasting value for both the industry and society.”
The EBAN Sports steering committee consists of nine distinguished members: Co-Chairs Audra Shallal and Juan Fuentes, along with Edgardo da Fonseca, Vesa Lehtinen, Daniel Kulig, Heikki Rotko, Nina Rautiainen, Rohn Malhotra, and Albert Colomer. Each member brings extensive experience as an investor—whether as a business angel or venture capitalist—as well as expertise in ecosystem building, startup mentoring, and/or the sports industry. Collectively, they represent a broad geographical reach across Europe, including Spain, France, Germany, Switzerland, Denmark, Finland, and Poland
EBAN invites startups, investors, and industry stakeholders to join the network. For business angels and investors from EBAN member networks, or investors interested in sports. Eban Sports – EBAN
About EBAN
The European Business Angels Network (EBAN) is the pan-European representative for early-stage investors. With over 150 member organizations across more than 50 countries, EBAN supports the development of angel investing through advocacy, networking events, training programs, and research initiatives.
